What is a Deductible?
A "deductible" is a specific dollar amount that your health insurance company may
require that you pay out-of-pocket each year before your health insurance plan begins
to make payments for claims. Not all health insurance plans require a deductible.
As a general rule (though there are many exceptions), HMO plans typically do not
require a deductible, while most Indemnity and PPO plans do.